Federal Reserve Statistical Release, H.3, Aggregate Reserves of Depository Institutions and the Monetary Base; title with eagle logo links to Statistical Release home page

Release Date: November 04, 1999

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                                                                           For Release at
                                                                           4:30 P.M. EST
                                                                           November 4, 1999
          
H.3
       
 
         
 
      25, 1999, th
 
 
                                    
FEDERAL RESERVE ST TISTICAL RELE ASE                        
                                    
H.3 (502)                           
Table 1                                                                                                   For Release a t 4:30 p.m. E astern Time  
                                                                                                                             November  4, 1999     
AGGREGATE RESERVES OF DEPOSITORY  INSTITUTIONS  AND THE MONETAR Y BASE                 
Adjusted for chang s in reserve  requirements1                                                                                                     
Averages of daily  igures, seaso nally adjuste d unless noted o therwise               
Millions of dollar                              
------------------ ------------- ------------- ---------------- ------------- ------------- ------------- ------------- ------------- -------------
                                                                                                                           
                              Re serves of dep ository institut ions                              Borrowi ngs of deposi tory institut ions from    
                                                                                                              the Feder al Reserve, N SA           
                     ----------- ------------- ---------------- -----------                   ----------- ------------- ------------- -------------
                                                                                                                                         Special   
     Date             total2     nonborrowed3       required    excess NSA4      Monetary        total6      adjustment     seasonal     Liquidity 
          
                           
------------------ ------------- ------------- ---------------- ------------- ------------- ------------- ------------- ------------- -------------
 1998-Oct.                44405         44231            42831          1574        505843           174            67           107               
      Nov.                44497         44414            42873          1624        509144            83            47            37               
      Dec.                44902         44785            43319          1583        512321           117           101            15               
                                                                                                                                                   
 1999-Jan.                45125         44920            43591          1534        516807           206           199             7               
                                                                                                                                           
Apr. 43979 43812 42820 1159 528741 166 128 39
May 44360 44233 43105 1256 534860 127 39 89
June 42867 42722 41606 1261 537625 145 18 127

July 41978 41669 40902 1076 541202 309 83 226
Aug. 42067 41723 40938 1129 544414 344 72 271
Sep. 42113 41774 40916 1197 549517 338 56 282

Oct. p 40938 40657 39799 1139 556741 281 52 221 8
Two weeks ending
1999-Sep. 8 42756 42438 41548 1207 546824 318 35 284
22 42132 41809 41110 1022 548982 323 48 276

Oct. 6 41435 41050 39943 1491 553145 385 91 294 1
20 40695 40431 39582 1113 555749 265 21 244 1

Nov. 3p 40977 40731 39996 980 559966 246 72 153 22
---------------------------------------------------------------------------------------------------------------------------------------------
1. Reserves and monetary base figures incorporate adjustments for discontinuities, or "breaks", associated with regulatory changes in reserve
requirements. For more information, see Table 3.
2. Seasonally adjusted, break-adjusted total reserves equal seasonally adjusted, break-adjusted required reserves plus unadjusted excess
reserves. (Also, see footnote 2 on Table 2 and footnote 2 on Table 3.)
3. Seasonally adjusted, break-adjusted nonborrowed reserves equal seasonally adjusted, break-adjusted total reserves less unadjusted total
borrowings of depository institutions from the Federal Reserve.
4. Excess reserves NSA equals unadjusted total reserves (Table 2, column 1) less adjusted required reserves (Table 2, column 3).
5. The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally adjusted, break-adjusted total reserves plus (2)
  sted, break-adjusted difference between    amount applied to satisfy current rese  
. Borrowing at t e discount wi dow under th terms and c nditions establ
lished for
 
 
ntury Date  
hange Specia
 
 
Liquidity F  
cility in effec
 
                                    
                                    
                                    
H.3 (502)                           
Table 2                             
AGGREGATE RESERVES  OF DEPOSITORY  INSTITUTIONS  AND THE MONE TARY BASE              
Not adjusted for c hanges in rese rve requireme nts1                     
Averages of daily  figures, not s easonally adj usted                    
Millions of dollar s                             
------------------ -------------- ------------- ------------- ------------- ------------ ------------- ------------- ------------- -------------
                                    
                    Reserves of d epository ins titutions                                            V ault cash5       
                 - -------------- ------------- ----------                             - ------------- ------------- -----------    
                                                                               Reserve                    used to                   Net carryove
     Date               total2    nonborrowed      required   Monetary base   balances        total       satisfy       surplus7     of reserve 
                                                                              with F.R.                  required                    balances8  
                                                                               Banks4                    reserves6      
          
------------------         
                                                                                                
 1998-Oct.                 44117         43943         42543        511359         9027         43268         35089          8179   
      Nov.                 44152         44069         42528        516958         8855         43104         35297          7807   
      Dec.                 45018         44902         43435        525062         9021         44305         35997          8308   
                                                                                                                                    
 1999-Jan.                 46345         46139         44811        527587         9658         45499         36687          8812   
      Feb.                 45237         45122         44022        526850         8578         46468         36660          9809   
                                                                                                                           
Apr. 43645 43478 42486 533491 9238 42164 34407 7757
May 44875 44747 43619 539984 10070 42459 34805 7654
June 42394 42249 41133 542818 8539 42632 33856 8776

July 41802 41493 40726 548065 7797 44059 34005 10054
Aug. 41871 41527 40742 550858 7802 44664 34069 10595
Sep. 41787 41449 40590 555141 7698 44519 34089 10430

Oct. p 40697 40416 39558 562233 6766 47013 33932 13082
Two weeks ending
1999-Sep. 8 42596 42278 41388 553109 8470 43774 34126 9648 82
22 41766 41443 40744 555231 7440 44556 34327 10229 199

Oct. 6 41016 40631 39524 557018 7380 45199 33636 11563 -60
20 40527 40263 39414 562263 6531 47350 33997 13353 205

Nov. 3p 40741 40495 39761 565041 6730 47576 34011 13565 119
--------------------------------------------------------------------------------------------------------------------------------------------
 
 
 
 
and adjustments to compensate for float at Federal Reserve Banks plus (3) the currency component of the money stock plus (4), for all
quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters whose
vault cash exceeds their required reserves, the difference between current vault cash and the amount applied to satisfy current reserve
requirements. Currency and vault cash figures are measured over computation periods ending on Mondays.
4. Excludes required clearing balances and adjustments to compensate for float and includes other off-balance sheet "as-of" adjustments.
5. Vault cash eligible to satisfy reserve requirements. It includes only vault cash held by those banks and thrifts that are not exempt
  amount of vault cash applied during the  
7. Total vault cas eligible to satisfy reser ve requiremen ts, held by dep
8. Consists of car yover only at  depository i nstitutions m aintaining rese
   or deficit (-)  eserves eligi ble to be car ried forward  into the two-we
p--preliminary            
                          
                          
                          
                          
H.3 (502)                 
Table 3                   
AGGREGATE RESERVES OF DEPOSITORY  INSTITUTIONS  AND THE MONE TARY BASE      
Adjusted for chang s in reserve  requirements1                
Averages of daily  igures, not s easonally adj usted          
Millions of dollar                    
------------------ ------------- ------------- ------------- ---------------
                          
                     Reserves of  depository i nstitutions    
                   ------------- ------------- -------------                
         
     Date                 
------------------ ------------- ------------- ------------- ---------------
 1998-Oct.                44201         44027         42627          504465 
      Nov.                44243         44160         42619          510137 
      Dec.                45118         45002         43535          518278 
                                                                            
 1999-Jan.                46340         46135         44806          520009 
 
Mar. 43141 43076 41836 523353

Apr. 43671 43504 42512 526774
May 44908 44781 43652 533116
June 42434 42290 41173 535881

July 41848 41539 40772 540979
Aug. 41923 41579 40794 543867
Sep. 41848 41510 40651 548083

Oct. p 40764 40483 39625 555106
Two weeks ending
1999-Sep. 8 42653 42335 41446 546177
22 41827 41504 40804 548247

Oct. 6 41081 40696 39589 549702
20 40596 40331 39483 555219

Nov. 3p 40806 40560 39826 557910

p--preliminary          pe--preliminary estimate
1. Figures reflect adjustments for discontinuities, or "breaks", associated with
regulatory changes in reserve requirements.

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Last update: November 04, 1999